Tokenized Credit Platform Centrifuge Plans Institutional RWA Lending on Coinbase’s Base, Raises $15M in VC Investment

“Anthony Bassili, Coinbase’s head of allocators and tokenization, mentioned that there is ongoing strong demand from institutional investors for simpler ways to use tokenization services directly on the blockchain.”

The secret was revealed that Centrifuge had secured $15 million in funding for their plans through a highly demanded investment round. ParaFi Capital and Greenfield spearheaded the investment, while numerous other firms such as Arrington Capital, Circle Ventures, Gnosis, The Spartan Group, and Wintermute Ventures joined in.

According to CoinGecko’s data, CFG, the native token of the protocol, experienced a surge of up to 14% following the announcement. Despite giving back some of those gains, CFG remained 5% higher over the previous 24 hours. In contrast, the CoinDesk DeFi Index, which serves as a benchmark for the sector, saw a decline of 1% during the same time frame.

A centrifuge platform is dedicated to transferring organized debt assets onto the blockchain infrastructure, as indicated by $270 million worth of active loans according to rwa.xyz’s data.

According to Ben Forman of ParaFi Capital, we’re approaching a significant turning point in institutional acceptance of the technology. The Centrifuge team stands out with their expertise in real-world asset tokenization, carefully considering the legal, regulatory, and technical aspects of their design choices.